Serendipity helped launch Louisville hospital company

5:07 PM,
Nov. 6, 2010

Brentwood Meadows near Evansville, Ind., is Springstone?s first hospital. The company is looking at sites for two others. It plans to expand its Louisville headquarters, but the timing will depend on how quickly it develops new facilities.

Written by

Patrick Howington
phowington@courier-journal.com

Luck played a part in the formation of Springstone, a new Louisville hospital company, and its landing of a $100 million commitment to develop the business, its chief executive says.

Springstone, which now operates one psychiatric hospital, announced Tuesday that Welsh, Carson, Anderson & Stowe, a leading health-care equity investor, has become its majority owner and pledged the $100 million.

W. Earl Reed III, Springstone's CEO, said the company got its start when Patrick Hammer, an entrepreneur he knew, sought his consulting help to develop a hospital outside Evansville, Ind. ...